U.S. stocks were surging on Wednesday morning as Treasury yields fell after core inflation data came in below expectations, boosting bets that the Federal Reserve will still be able to cut interest rates this year.

Stock futures are pointing to a mixed open for major indexes on Wednesday as investors await comments from the Federal Reserve after its policy meeting and quarterly results from major technology companies.

IST, the barometer index, the S&P BSE Sensex, advanced 390.06 points or 0.50% to 76,253.28. The Nifty 50 index added 104.40 points or 0.45% to 23,061.65.

Anxiety over a Chinese startup's threat to American artificial intelligence dominance eased somewhat Wednesday as focus turned to the Federal Reserve’s rate

IST, the barometer index, the S&P BSE Sensex, advanced 207.39 points or 0.27% to 76,103.76. The Nifty 50 index added 56.10 points or 0.24% to 23,013.35.

Stock futures were near the flatline on Tuesday evening as investors turned toward the first Federal Reserve interest rate decision of 2025. Futures tied to the Dow Jones Industrial Average inched down 11 points, or 0.02%. Nasdaq 100 futures were 0.06% higher, while S&P 500 futures were flat.

Explore the stock market outlook for the first six months of 2025. Learn key trends, forecasts and insights to help guide your investment decisions.

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With the two reports, the Federal Reserve’s preferred measure of inflation, the personal consumption expenditures, is now under the 2% target, giving investors hope the central bank will keep on pace for at least two more interest rate cuts.

The latest inflation report slashed the risk that the Fed could go back to hiking interest rates this year, Wall Street strategists say.

Wall Street closed sharply higher on Wednesday, driven by tech, discretionary and financial stocks. Inflation data released on the day boosted investor mood. All three most widely followed indexes closed the session firmly in the green while registering their biggest daily percentage gains since Nov.

In Phoenix, food away from home saw one of the more significant jumps, increasing 3.4% in the past year compared to grocery prices, which rose 0.7%. Energy prices declined overall, driven by lower gas and natural gas prices, but electricity prices increased 6.2% in the past year.